SPDG vs. JEPI

Last updated Jun 4, 2026

SPDG (SPDR Portfolio S&P Sector Neutral Dividend ETF) and JEPI (JPMorgan Equity Premium Income ETF) are both Dividend funds. SPDG is passively managed, while JEPI is actively managed. Over the past year, SPDG returned 28.62% vs 7.70% for JEPI. Their correlation of 0.82 suggests significant overlap in exposure. SPDG charges 0.05%/yr vs 0.35%/yr for JEPI.

Performance

SPDG vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio S&P Sector Neutral Dividend ETF (SPDG) and JPMorgan Equity Premium Income ETF (JEPI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPDG achieves a 16.69% return, which is significantly higher than JEPI's 0.15% return.

SPDG

• 1D: -0.67%
• 1M: 7.25%
• YTD: 16.69%
• 6M: 16.41%
• 1Y: 28.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JEPI

• 1D: 0.14%
• 1M: -1.54%
• YTD: 0.15%
• 6M: 0.47%
• 1Y: 7.70%
• 3Y*: 8.88%
• 5Y*: 7.26%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SPDG vs. JEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SPDG SPDR Portfolio S&P Sector Neutral Dividend ETF	16.69%	11.66%	20.22%	8.14%
JEPI JPMorgan Equity Premium Income ETF	0.15%	8.09%	12.57%	2.53%

Correlation

The correlation between SPDG and JEPI is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.79
Correlation (All Time) Calculated using the full available price history since Sep 13, 2023	0.82

The correlation between SPDG and JEPI has been stable across timeframes, ranging from 0.79 to 0.82 - a consistent structural relationship.

SPDG vs. JEPI - Sectors Allocation Comparison

Sectors	SPDG	JEPI
Technology	35.5%	19.1%
Financial Services	12.9%	9.8%
Communication Services	10.5%	6.9%
Consumer Cyclical	9.5%	11.7%
Healthcare	9.1%	14.1%
Industrials	8.5%	13.8%
Consumer Defensive	4.7%	9.6%
Energy	3.3%	3.5%
Utilities	2.4%	6.2%
Real Estate	2.2%	3.5%
Basic Materials	1.4%	1.9%

Return for Risk

SPDG vs. JEPI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SPDG

SPDG Risk / Return Rank: 69
SPDG Sharpe Ratio Rank: 71
SPDG Sortino Ratio Rank: 75
SPDG Omega Ratio Rank: 69
SPDG Calmar Ratio Rank: 69
SPDG Martin Ratio Rank: 63

JEPI

JEPI Risk / Return Rank: 26
JEPI Sharpe Ratio Rank: 27
JEPI Sortino Ratio Rank: 26
JEPI Omega Ratio Rank: 26
JEPI Calmar Ratio Rank: 24
JEPI Martin Ratio Rank: 26

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SPDG vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio S&P Sector Neutral Dividend ETF (SPDG) and JPMorgan Equity Premium Income ETF (JEPI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	SPDG	JEPI	Difference
Sharpe ratio: Return per unit of total volatility	2.37	0.99	+1.39
Sortino ratio: Return per unit of downside risk	3.41	1.47	+1.94
Omega ratio: Gain probability vs. loss probability	1.42	1.18	+0.24
Calmar ratio: Return relative to maximum drawdown	3.45	1.16	+2.29
Martin ratio: Return relative to average drawdown	11.57	3.73	+7.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPDG vs. JEPI - Sharpe Ratio Comparison

The current SPDG Sharpe Ratio is 2.37, which is higher than the JEPI Sharpe Ratio of 0.99. The chart below compares the historical Sharpe Ratios of SPDG and JEPI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SPDG	JEPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.37	0.99	+1.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.66	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.52	1.01	+0.51

Drawdowns

SPDG vs. JEPI - Drawdown Comparison

The maximum SPDG drawdown since its inception was -15.67%, which is greater than JEPI's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for SPDG and JEPI.

Drawdown Indicators

	SPDG	JEPI	Difference
Max Drawdown Largest peak-to-trough decline	-15.67%	-13.71%	-1.96%
Max Drawdown (1Y) Largest decline over 1 year	-8.34%	-6.68%	-1.66%
Max Drawdown (3Y) Largest decline over 3 years	—	-13.26%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-13.71%	—
Current Drawdown Current decline from peak	-0.67%	-4.83%	+4.16%
Average Drawdown Average peak-to-trough decline	-2.19%	-2.12%	-0.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.48%	2.07%	+0.41%

Volatility

SPDG vs. JEPI - Volatility Comparison

SPDR Portfolio S&P Sector Neutral Dividend ETF (SPDG) has a higher volatility of 3.54% compared to JPMorgan Equity Premium Income ETF (JEPI) at 1.35%. This indicates that SPDG's price experiences larger fluctuations and is considered to be riskier than JEPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPDG	JEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.54%	1.35%	+2.19%
Volatility (6M) Calculated over the trailing 6-month period	9.23%	6.07%	+3.16%
Volatility (1Y) Calculated over the trailing 1-year period	12.14%	7.85%	+4.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.18%	11.06%	+3.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.18%	10.80%	+3.38%

SPDG vs. JEPI - Expense Ratio Comparison

SPDG has a 0.05% expense ratio, which is lower than JEPI's 0.35% expense ratio.

Dividends

SPDG vs. JEPI - Dividend Comparison

SPDG's dividend yield for the trailing twelve months is around 2.59%, less than JEPI's 8.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
JEPI JPMorgan Equity Premium Income ETF	8.27%	8.25%	7.33%	8.40%	11.68%	6.59%	5.79%
SPDG SPDR Portfolio S&P Sector Neutral Dividend ETF	2.59%	2.87%	2.61%	0.90%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPDG and JEPI in my portfolio?

SPDG and JEPI have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPDG or JEPI?

SPDG has higher volatility (3.54%) compared to JEPI (1.35%). In terms of maximum drawdown, SPDG dropped -15.67% vs JEPI's -13.71%.

Which ETF is better, SPDG or JEPI?

On 1-year performance, SPDG leads with 28.62% vs 7.70% for JEPI. On fees, SPDG is cheaper at 0.05% per year. On volatility, JEPI has been the lower-risk option at 1.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPDG or JEPI?

Over the 1-year period, SPDG has performed better with a 28.62% return vs 7.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPDG or JEPI?

SPDG is cheaper with a 0.05% expense ratio, compared with 0.35% for JEPI.

Which ETF pays a higher dividend yield, SPDG or JEPI?

JEPI has the higher dividend yield at 8.27%, compared with 2.59% for SPDG.

What is the main difference between SPDG and JEPI?

They also come from different issuers: State Street and JPMorgan. Their fees differ too: 0.05% for SPDG and 0.35% for JEPI.

Which has better risk-adjusted returns?

SPDG currently has the higher Sharpe Ratio (2.37 vs 0.99), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.